Marsons Ltd
Incorporated in 1976, Marsons Ltd
is engaged in manufacturing of transformers in the capacity range of 100 MVA 132KV class[1]
- Market Cap ₹ 2,642 Cr.
- Current Price ₹ 154
- High / Low ₹ 246 / 115
- Stock P/E 81.1
- Book Value ₹ 8.12
- Dividend Yield 0.03 %
- ROCE 33.8 %
- ROE 36.5 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 487 to 148 days.
Cons
- Stock is trading at 18.9 times its book value
- Promoter holding has decreased over last 3 years: -21.4%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Part of BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 15m | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 106 | 116 | 103 | 100 | 17 | 0 | 6 | 168 | 207 | |
| 93 | 104 | 90 | 97 | 64 | 20 | 5 | 143 | 177 | |
| Operating Profit | 13 | 11 | 13 | 3 | -47 | -19 | 1 | 25 | 30 |
| OPM % | 12% | 10% | 12% | 3% | -283% | -5,506% | 18% | 15% | 15% |
| -1 | 3 | 1 | 1 | -8 | -1 | 0 | 3 | 3 | |
| Interest | 5 | 9 | 8 | 10 | 5 | 0 | -0 | 0 | 0 |
| Depreciation | 1 | 2 | 3 | 2 | 32 | 3 | 1 | 0 | 0 |
| Profit before tax | 6 | 3 | 3 | -8 | -93 | -23 | 1 | 28 | 33 |
| Tax % | 7% | 34% | -21% | 23% | -1% | -8% | -0% | -0% | |
| 5 | 2 | 4 | -10 | -92 | -22 | 1 | 28 | 33 | |
| EPS in Rs | 2.07 | 0.88 | 1.66 | -3.98 | -36.63 | -8.63 | 0.04 | 1.63 | 1.89 |
| Dividend Payout % | 24% | 11% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 184% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 145% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 36% |
| 5 Years: | 98% |
| 3 Years: | 224% |
| 1 Year: | -34% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 36% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 14 | 17 | 17 |
| Reserves | 26 | 27 | 28 | 18 | -74 | -94 | 0 | 105 | 123 |
| 38 | 37 | 71 | 76 | 86 | 84 | 9 | 3 | 3 | |
| 48 | 43 | 102 | 44 | 36 | 23 | 6 | 27 | 24 | |
| Total Liabilities | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 | 167 |
| 29 | 27 | 58 | 56 | 24 | 21 | 13 | 14 | 15 | |
| CWIP | 0 | 1 | -0 | 0 | 0 | 0 | -0 | -0 | 26 |
| Investments | 10 | 10 | 10 | 10 | -0 | -0 | -0 | 37 | -0 |
| 98 | 94 | 158 | 96 | 49 | 17 | 17 | 101 | 126 | |
| Total Assets | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 | 167 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -15 | 5 | 27 | 4 | -7 | 1 | -4 | -35 | |
| -0 | -2 | -25 | -1 | 1 | -0 | -0 | -38 | |
| 10 | -5 | -3 | -4 | 5 | -2 | 4 | 74 | |
| Net Cash Flow | -5 | -1 | -1 | -0 | -0 | -1 | 0 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 209 | 116 | 372 | 144 | 907 | 10,126 | 827 | 148 |
| Inventory Days | 119 | 175 | 313 | 200 | 2 | -0 | 100 | 42 |
| Days Payable | 171 | 130 | 537 | 127 | 190 | 240 | 71 | |
| Cash Conversion Cycle | 157 | 161 | 147 | 217 | 720 | 10,126 | 687 | 120 |
| Working Capital Days | 53 | 46 | 97 | 77 | -696 | -51,382 | 75 | 151 |
| ROCE % | 14% | 2% | -101% | -89% | 34% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
1d - Received ₹25,02,78,000 order from Galaxy Solar for 72 IDT transformers; 6-month execution.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
1d - Received ₹9.91 crore order from LC Infra for 70 MVA and 80 MVA 132 kV transformers; supply within 6 months.
-
Announcement under Regulation 30 (LODR)-Credit Rating
2d - BWR assigns Marsons Ltd BWR BBB+/Stable (LT) and A2 (ST) for Rs.35 crore facilities on 05Dec2025.
-
Announcement under Regulation 30 (LODR)-Credit Rating
10 Dec - BWR assigns BBB+/Stable and A2 ratings to Marsons Ltd's Rs35 crore bank facilities (05Dec2025).
-
TDS Communication To The Shareholders
1 Dec - Interim dividend 5 paise/share (5%) declared; Record Date 3 Dec 2025; submit TDS/KYC documents by 3 Dec.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1][2]
MSL is an ISO 9001:2008 certified and
CPRI, ERDA, and NABL accredited, multi
product and service organization engaged
in manufacturing, supplying, erecting, testing, and commissioning of Power and Distribution transformers of various ratings, which include 10 KVA, 50 MVA 132 kV class, up to the range of 160 MVA 220 kV class.